OPENING ITS DOORS: (from right) Khadar Merican, Azlan Zainol, Nazirah Hussin, Pimpa Thawarayut, RHB Insurance Bhd chairman Khairuddin Ahmad, RHB Bank Bhd Thailand operation business development head Richard Liew Heng Cheong, RHB Bank Bhd principal officer Renzo Christopher Viegas and Bank of Thailand delegation.
KUCHING: RHB Banking Group, the fifth largest fully integrated financial products and services group in Malaysia, announced the official inauguration of its branch office in Bangkok, Thailand.
Located at All Seasons Place on Wireless Road, the branch would provide quality financial and banking services. This branch office would better serve the entire Bangkok area customers with small and medium enterprises (SME) products as well as corporate banking services, it said in a press statement.
The official inauguration of the branch with ribbon cutting ceremony by Bank of Thailand financial institutions assistant governor Pimpa Thawarayut, was witnesses by Thailand ambassador of Malaysia Datuk Nazirah Hussin, RHB Bank Bhd chairman Tan Sri Azlan Zainol, RHB Capital Bhd chairman Datuk Mohammed Khadar Merican and RHB Banking Group directors.
Speaking on the occasion, Azlan Zainol said that in respect of the SME and corporate banking which was in line with the RHB Banking Group’s business strategy for this branch, Thailand was definitely ‘the place’ in Asia for capturing the growing opportunities in the region.
“Our branch here in Thailand will play an active role in providing quality financial and banking services, customers in Thailand will no doubt benefit. The diversity of our SME products and corporate banking services has enriched our position in Thailand as a vibrant and growing international banking group,” he added.
A leader in financial services, RHB Banking Group offered innovation and experience in investment as well as commercial banking, and insurance services and products. It had earned numerous awards by industry observers and editors. “Today, its managers and staff serve customers via a network of over 300 branches and outlets in Malaysia, Brunei, Thailand, Singapore and Vietnam,” said Azlan Zainol.
The asset size of RHB Thailand as at December, 2010 stood at 6.121 billion baht while profits before tax stood at 74.99 million baht.
For the month of Apr 2011, loans and advances stood at 2.511 billion baht, these comprised commercial loans (53 per cent) and corporate loans (46 per cent). Deposits stood at 2.287 billion baht which comprised fixed deposits (81 per cent), savings deposit (11 per cent) and current deposits (eight per cent).